23 February 2017
visit dh.com

Discover joins US EMV bandwagon

15 March 2012  |  8407 views  |  0 Discover card

Discover Financial Services has fallen in line behind larger rivals Visa and MasterCard, setting out a timetable for the US abandonment of mag-stripe cards in favour of EMV chip technology

In August Visa set out a three-step plan to encourage dynamic chip authentication adoption, requiring US processors to be able to support merchant acceptance of the technology by April 2013 before switching liability to retailers that have not upgraded in October 2015.

At the beginning of the year MasterCard followed suit and now Discover has promised to implement a 2013 EMV mandate for acquirers and direct-connect merchants in the US, as well as Canada and Mexico.

"This industry alignment will streamline certification and deployment efforts and enable a manageable transition for all parties involved, including issuers, merchants and acquirers," says the firm.

Discover says that its approach to EMV is "both universal and choice-centric," meaning the company will not restrict any channel, verification process or transaction type, supporting:

  • All card authentication channels - including online and offline
  • All cardholder verification methods - including both chip and PIN or chip and signature
  • All commerce channels - including contact and contactless (including mobile)

Troy Bernard, global head, chip payment technology, Discover, says: "Enabling EMV in North America is a significant step in Discover's approach toward emerging payments, and clearly a necessary one. We believe each payment solution should enable choice and security within its transaction environment, which is why when it comes to EMV, we're giving stakeholders choice and flexibility on how they implement it."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard joins push for US EMV switch

MasterCard joins push for US EMV switch

31 January 2012  |  11359 views  |  4 comments
Visa: US EMV move doesn't mean chip and PIN

Visa: US EMV move doesn't mean chip and PIN

17 January 2012  |  16348 views  |  7 comments | 1 tweets
Visa cites m-payments as it pushes US to EMV

Visa cites m-payments as it pushes US to EMV

09 August 2011  |  16142 views  |  1 comments
Citi commits to EMV for international travellers

Citi commits to EMV for international travellers

19 July 2011  |  9987 views  |  0 comments
Wells Fargo pilots EMV tech for international travellers

Wells Fargo pilots EMV tech for international travellers

13 April 2011  |  9301 views  |  0 comments
Over one billion EMV cards now active

Over one billion EMV cards now active

06 October 2010  |  15104 views  |  0 comments
American Express acquires EMVCo stake

American Express acquires EMVCo stake

03 February 2009  |  10619 views  |  0 comments | 1 tweets

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit BNP paribasvisit dh.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Who is commenting?

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain Technology
13306 views 1 | 13 tweets | 6 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
11393 views comments | 51 tweets | 70 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7995 views comments | 40 tweets | 33 linkedin
Standard Chartered connects corporate customers to WeChatStandard Chartered connects corporate cust...
6251 views comments | 17 tweets | 19 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6178 views comments | 17 tweets | 13 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job